21-11-2023PragmaGO surpassed PLN 1.4 billion in turnover after the third quarter of 2023 (up 25% year-on-year) and financed 97% more transactions than in the same period last year. The company increased its customer portfolio by 37% year-on-year, providing financing to 14,269 entrepreneurs. Fintech continues to expand factoring, which generated PLN 1.2 billion in turnover during the period (up 15% y/y).
In Poland, we are the largest B2B service provider in this innovative partnership model. Embedded finance is developed through the competence of our technology company PragmaGO.tech. We have created, among other things. Merchant Cash Advance – flexible financing in which our partners’ customers receive a personalized financing prelim before they even apply for it. Prelimit is calculated, among other things. Based on the customer’s turnover with the partner. Settlement of the liability can occur as an agreed percentage of turnover, so that the repayment schedule is tailored to the client’s specific business. This is possible thanks to our technological background and automation of processes
– says Tomasz Boduszek, CEO of PragmaGO.
During the first three quarters of 2023, 1,774 business customers used Merchant Cash Advance to obtain financing worth PLN 86 million. On the other hand, another embedded finance product – deferred payments (BNPL B2B) generated turnover of PLN 127 million (up 76% y/y) and helped finance the business of nearly 12,000. companies.
